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Transmittal - 7/1/2021 MARY BETH THOMPSON Chief Financial Officer ERIN MENDENHALL Mayor DEPARTMENT OF FINANCE POLICY AND BUDGET DIVISION 451 SOUTH STATE STREET, ROOM 238 PO BOX 145467, SALT LAKE CITY, UTAH 84114-5455 TEL 801-535-6394 CITY COUNCIL TRANSMITTAL ___________________________________ Date Received: ________________ Lisa Shaffer, Chief Administrative Officer Date sent to Council: ___________ ______________________________________________________________________________ TO: Salt Lake City Council DATE: May 4, 2021 Amy Fowler, Chair FROM: Mary Beth Thompson, Chief Financial Officer SUBJECT: Salt Lake City Library Budget Amendment #2 SPONSOR: NA STAFF CONTACT: John Vuyk, Budget Director (801) 535-6394 or Mary Beth Thompson (801) 535-6403 DOCUMENT TYPE: Budget Amendment Ordinance RECOMMENDATION: The Administration recommends that, subsequent to a public hearing, the City Council adopt the following amendments to the FY 2020-21 Library Fund adopted budget. BUDGET IMPACT: REVENUE EXPENSE LIBRARY FUND $ 270,000.00 $ 270,000.00 LIBRARY CAPITAL PROJECTS FUND 0.00 0.00 TOTAL $ 270,000.00 $ 270,000.00 Lisa Shaffer (May 11, 2021 09:31 MDT) BACKGROUND/DISCUSSION: On April 26th, the Salt Lake City Public Library’s Board of Directors approved a budget amendment for the Library Fund that would leave an unrestricted fund balance well above the 16 percent target balance. The Administration is requesting the City Council adopt the proposed budget amendment of $270,000.00 for the Library Fund. PUBLIC PROCESS: Public Hearing SALT LAKE CITY ORDINANCE No. ______ of 2021 (Second Amendment of the Final Budget for the Library Budget of Salt Lake City, Utah for Fiscal Year 2020-21) An ordinance amending Salt Lake City Ordinance No. 25 of 2020 which adopted the final budget for the Library fund of Salt Lake City, Utah, for the fiscal year beginning July 1, 2020 and ending June 30, 2021. PREAMBLE On June 16, 2020, the Salt Lake City Council adopted the final budget for the Library fund of Salt Lake City, Utah for the fiscal year beginning July 1, 2020 and ending June 30, 2021, in accordance with the requirements of Section 10-6-118 of the Utah Code. The City’s Budget Director, acting as the City’s Budget Officer, prepared and filed with the City Recorder proposed amendments to said duly adopted budget, copies of which are attached hereto, for consideration by the City Council and inspection by the public. All conditions precedent to amend said budget have been accomplished. Be it ordained by the City Council of Salt Lake City, Utah: SECTION 1. Purpose. The purpose of this Ordinance is to amend the final budget for the Library fund of Salt Lake City as approved, ratified and finalized by Salt Lake City Ordinance No. 25 of 2020. SECTION 2. Adoption of Amendments. The budget amendments, attached hereto and made a part of this Ordinance shall be, and the same hereby are adopted and incorporated into the budget for the Library fund of Salt Lake City, Utah for the fiscal year beginning July 1, 2020 and ending June 30, 2021, in accordance with the requirements of Section 10-6-128, of the Utah Code. 2 SECTION 3. Certification to Utah State Auditor. The City’s Policy and Budget Director, acting as the City’s Budget Officer, is authorized and directed to certify and file a copy of said budget amendments with the Utah State Auditor. SECTION 4. Filing of copies of the Budget Amendments. The said Budget Officer is authorized and directed to certify and file a copy of said budget amendments in the office of said Budget Officer and in the office of the City Recorder which amendments shall be available for public inspection. SECTION 5. Effective Date. This Ordinance shall take effect on its first publication. Passed by the City Council of Salt Lake City, Utah, this _____ day of _______________, 2021. ________________________ CHAIRPERSON ATTEST: ______________________________ CITY RECORDER Transmitted to the Mayor on __________________ Mayor’s Action: ____ Approved ____ Vetoed _________________________ MAYOR ATTEST: _______________________________ CITY RECORDER (SEAL) Bill No. _________ of 2021. Published: ___________________. Salt Lake City Attorney’s Office Approved As To Form _________________________ Jaysen Oldroyd Date:____________________ MEMO | April 19, 2021 To: Salt Lake City Public Library Board of Directors, Salt Lake City Administration and City Council From: Peter Bromberg, Executive Director Re: Budget Amendment 2 for FY2020-21 Library Administration is requesting a $270,000 increase to the FY21 general fund budget. This increase is required to budget and account for pass-through property tax revenue collected by Salt Lake County and remitted directly to the Utah Inland Port Authority and the Convention Facility. Neither of these entities has taxing authority, so the respective governments with taxing authority to which the tax revenues would have gone must show the revenue and a corresponding expenditure in their financial statements as required by Governmental Accounting Standards Board Statements 33 and 77. This requirement was noted as part of the Salt Lake City’s FY 2020 audit, and the issue has been discussed with Paul Skeen, the Library’s independent auditor, and Seth Oveson from the Office of the State Auditor of Utah, both of whom confirmed this requirement. The City has a similar amendment moving through the approval process. Administration is requesting that this amendment be approved at the April 26, 2021 meeting, so the amendment can be forwarded to the Salt Lake City Administration and City Council. The amendment is time sensitive and needs to be approved by both the Library Board and Salt Lake City Council prior to the end of FY2021. General Fund – Proposed increase of $270,000 Account Name Budget Amount Requested Amount Amended Amount Funding Sources CY Property Taxes-Pass Through $0 $270,000 $270,000 Totals $0 $270,000 $270,000 Expenditures Payments to Other Governments $0 $270,000 $270,000 Totals $0 $270,000 $270,000 Recommended Motion: Move to approve an increase to the Library’s FY21 general fund budget of $270,000. City Budget Director Analyst, City Council Date